Charitable planning is a term used by people in different ways.
For some, it’s as simple as giving to their church on a weekly basis.
For others, it’s about leaving a lasting legacy at a church or non-profit by adding them to a will or as a beneficiary of a life or annuity product.
However, when most in the legal community think of charitable planning, that usually means using a structure of some sort to accomplish a purpose in addition to charitable giving.
Some of the charitable planning tools are: Charitable Remainder Trust (CRT), Charitable Remainder Annuity Trust (CRAT), Charitable Remainder Unitrusts (CRUT), Charitable Lead Trust (CLT), Family Foundations, Charitable Gift Annuities, and the list goes on and on.
Capital gains tax reduction
Many of the charitable planning tools will be used to lessen someone’s capital gains tax on the sale of highly appreciated real estate or stocks.
The goal being to lessen the tax that is due, generate personal cash flow for the donor, and create a gift to the charity (a win/win scenario).
This website is not meant to be an educational site for charitable giving using various structures.
This site is meant to motivate readers to learn and ask questions so it can be determined if there are better ways to create an estate or financial plan while incorporating charitable giving in the process.
A good way to find out if a charitable planning structure is a potential fit for your situation is to click here to have your personal situation reviewed.
